Turo Inc Halts IPO Plans Amid Market Uncertainty

Turo Inc has filed to withdraw its IPO plans, according to a recent SEC filing. Initially submitted in January 2022, the company now states it doesn't wish to proceed with a public offering at this time.

Turo Inc, the peer-to-peer car sharing service, has announced the withdrawal of its initial public offering plans, a decision revealed in a recent filing with the Securities and Exchange Commission (SEC).

The company initially filed for an IPO in January 2022 but now cites reasons for not proceeding with public offerings due to the current market conditions.

This move likely reflects Turo's assessment of the capital markets and macroeconomic environment, choosing to delay any public fundraising efforts until a more favorable time.

(With inputs from agencies.)